Out with the old, in with the new

[Kyle]

Finally, getting a new car since the Jetta doesnt do the trick anymore. Sticking with German, just a little bigger and no more aftermarket parts for me. Keeping the Jetta as a travel/winter car. If everything goes well, I should have this one or another one they have next week. Anyone else have any experience with leasing over buying?

http://images.autotrader.com/images/2006/12/7/213/677/1324845065.213677811.IM1.08.565x421_A.562x421.jpg
http://images.autotrader.com/images/2006/12/7/213/677/1324845066.213677811.IM1.07.565x421_A.562x421.jpg

[veedubboostn]

WOW, thats pretty sweet bro

[CuseBora]

leasing sucks if you travel alot, but you stated that youre going to have your jetta for the winter/travel right? so atleast with the lease you know you'll be done with the payment in a certain amount of time...

[USOPHUNKE]

I leased once, I overall did not like it.
1. pressure of it never being my car and always worried something I did to it would cost me.(non normal wear and tare.)
2. if you plan on leasing you never actually are able to not have a car payment, which just gets old after awhile. Esp if they are big lease payments!!!
3. I think leasing is only good if you are doing it for a short period to save money, not so you can drive a car that really should be out of your price bracket(not saying you are) cuz in the end you just lose alot of money where you prob could have bought and kept the other car or sold for a profit.

that said...I love the car it looks very nice!!! and my leasing ideas really are prob just mine......

good luck getting it...

[lotar_6]

In NYS there is no commercial tax benefit to leasing anymore, so leases are loosing their appeal... other than to allow individuals to afford more expensive cars. NYS changed lease laws in 2003 (I think it was '03) to protect the lease companies. The way the laws were written, lease companies could be sued if the leased vehicles were involved in an accident or the like. Now, companies holding leased vehicles must "own" the vehicle during the lease term, thus they must depreciate the leased value, not expense the lease payments. The effects on company financials are nominal, but the tax burden falls on the company "owning" the lease vehicle.

I'm sure none of that effects you, but a lil' background doesn't hurt anyone. My only advice is to buy your miles up front and get the claimed value of the vehicle at lease end in writing! If you go over your mileage you will pay big time. Besides this, the only issues w/ leases by private parties I've seen is on the turn-in value of the vehicle. If the value at turn-in is less than the amount not financed in the lease... guess who gets to pay for the difference?! Essentially a lease should allow you to finance the life of the vehicle you intend to use. If you "use more" than planned, you pay at the end. Therefore, get a "closed-end" lease... one that guarantees the value of the vehicle at the end of the lease. If the appraiser (usually the used car manager where you return the car) values the car less than the value guaranteed at the beginning of the lease, then the lease company is responsible for the difference. Of course wear & tear is above and beyond this value, but is usually nominal. On the flip side, if the value at turn-in is higher than the garaunteed amount, you can use this "surplus" to reduce the lease on your next leased vehicle (usually providing you use the same lease company &/or dealership)! It's kinda like being right-side-up on a trade-in.

Beyond that, don't mod a leased car! I'd recommend new wheels, tho, so you can keep the stock wheels mint for turn-in. Side note: BMW's are only sold w/ run-flats and are uber expensive tires! A clear bra might not be a bad idea either (just find a good installer!).

[RichB]

My last two wagons (the Passat I have now and the Saturn LW2 I had before it) were both leased (trtaditional closed end lease). As I understand it, I was able to lease becuase the companies I leased from were not in new york state.... otherwise you wind up doing what I think Kyle is describing above which is actually a traditional finance with a balloon payment at the end if you keep the car.

I have also leased another car back in the early 90's... I have not had a problem with any of my leases and zero problems on return. I have always carefully watched my milage during my lease and made sure I leased with the miles per year that I know I needed and could live with. For me as a business owner, I (er, my accountant) writes off the percentage of the lease payment and all asscoatied expenses (repairs, gas, insurance, Oil changes) of which is related to business use (about 80% - I keep a log book of the business milage I run up on the car)... it has worked great for me.

As to mods... well I have done some things to the Passat, but it will not be a big deal to swap back the stock shifter and suspension before I turn the Passat back in next September.

[Kyle]

I decided to lease because of the price of the car. I am only paying $459 or so a month for this, which a great deal, 15,000 miles per year and the fact that I can get something differant in 3 years.

[customfabvw]

could have a way nicer vw for that price! lease a pheaton

[FlyBy]

I am only paying $459 or so a month for this, which a great deal, 15,000 miles per year and the fact that I can get something differant in 3 years.

That's a lot of money per month just to lease a BMW, not to mention if it breaks down they are expensive to fix (a cost that you would have to pay if the warranty dosen't cover it). Like matt said, lease a nice vw or maybe even an audi. I couldn't imagine paying that much per month, and not even really owning it.

[Kyle]

Considering its a $50,000 car, $459 a month isnt bad at all, new job, new toys. Considering it is $100/month for every $5,000 you finance(when you purchase) its a great deal. If I were to buy this car with $20,000 down, it would still cost me $500/month, for 60 months. I still love the VW's, but I have to move forward, its BMW from here on out. As for the Phaeton, too expensive at $75,000 and they dont make it anymore, so it would be hard to lease.

[Kyle]

I dont think I actually said anything about the car, BMW 530i- 3.0 255hp RWD, sport package with active steering. We will see if I actually get this car or not, I hear the new M3 s coming out this year as an '08. Maybe I will pick up a used one next spring/summer.

[lite1979]

Good luck finding the new car! As far as it costing $100 a month for every $5000 you finance, that's a little misleading (I'm a loan officer), as few banks/credit unions will let you finance a $5000 car for 60 months, but a good general number to remember. Have fun shopping, and if you're taking your time, don't hesitate to buy one in Germany and bring it home!

[VWTUNING]

I personally dont like leasing cause you cant mod the car, but I imagine with this type of vehicle you wouldnt want to change much so you should be good to go.

Leasing makes sense in some situations, my parents have done it repeatedly over the years becuase they like driving a new car and not having to worry about service (they typically do 2-3 year leases and typically are covered under warranty the entire time). You pay less per month than if you were buying the car, and when your done with the car you dont have to worry about selling. You get great incentives when you go to lease the car again, or you have the option to buy out the car if you like it (at a discounted rate). Thats how I got the Golf, I bought out my parents lease. If I didnt like messing with cars so much it is something I would consider for a daily driver.


Kyle-
I can think of LOTS of vehicles I would rather own if my budget was $500 a month, but its your car and your choice :P

What ever you end up with, hope you enjoy it!

[meatwad!!]

cant mod a car on a lease..
hah..

[BUNNYLOVE]

As to the warranty comments, the warranty on this car is like 50K bumper to bumper including brakes, oil changes, wiper blades, everything. So the maintenance cost would be nil.

[VWTUNING]

cant mod a car on a lease..
hah..

ok you can, but you need to remove the mods before returning the vehicle for service or when returning at lease end. And if any problems arrise that are even slightly related to modifications the dealer jumps at the chance to charge you out the wazoo for diagnostics.

so IMO, realisticly you can't mod a leased car, or at least to me, its not worth it.

[Nuksucow]

You can do almost anything you want to the car, and service shouldn't matter if the car is leased or bought all cars get the same repairs regardless of finance. From talking to sales people, they have told me that you need to remove anything before turning it in otherwise you lose the money on the parts you don't take off. They are obviously not going to give you money back for parts added so its your loss if you leave them on the car, this is what I was told would happen with a lease and modding. I bet they might question some serious mods but if you turn it in with suspension or similar stuff they won't care.